Old National Bancorp $ONB Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC trimmed its holdings in Old National Bancorp (NASDAQ:ONB) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,364,699 shares of the bank’s stock after selling 33,991 shares during the quarter. Old National Bancorp accounts for about 1.9% of Channing Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Channing Capital Management LLC owned 0.86% of Old National Bancorp worth $73,855,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ONB. Rothschild Investment LLC raised its holdings in shares of Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after purchasing an additional 535 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Old National Bancorp by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after buying an additional 556 shares in the last quarter. Securian Asset Management Inc. increased its holdings in shares of Old National Bancorp by 2.3% in the second quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after buying an additional 565 shares in the last quarter. Connable Office Inc. lifted its position in shares of Old National Bancorp by 2.9% during the 3rd quarter. Connable Office Inc. now owns 22,191 shares of the bank’s stock valued at $487,000 after acquiring an additional 635 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Old National Bancorp by 18.7% during the 2nd quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock worth $92,000 after acquiring an additional 677 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Old National Bancorp

In related news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the sale, the insider directly owned 20,438 shares in the company, valued at approximately $511,971.90. This trade represents a 59.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Old National Bancorp Price Performance

Shares of ONB opened at $25.20 on Friday. The business’s 50-day moving average is $23.79 and its 200-day moving average is $22.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 14.08 and a beta of 0.84. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $698.53 million for the quarter, compared to the consensus estimate of $705.62 million. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Stockholders of record on Tuesday, May 5th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. Old National Bancorp’s dividend payout ratio is 31.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Monday, December 29th. UBS Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Old National Bancorp in a report on Wednesday, February 4th. National Bank Financial set a $30.00 price target on shares of Old National Bancorp in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.36.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.